All Forum Posts by: Derek Hacker
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Post: Rental Property - Paying more towards principal each month?
Derek HackerPosted
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Hi Everyone,
Looking for some advice on my first rental property. Property details:
Loan Amount - $324,000
Rent - $2900/Month
Revenue/yr after PITI - $7570
The current mortgage amount is $1466 and I am paying an extra $244 per month towards the principal. I am looking to continue investing in real estate and was looking for suggestions on if I should continue paying down the loan quicker or take advantage of the extra cash flow since my renters are paying down the loan? Any advice would be greatly appreciated.